Korea Investment CORP Reduces Stake in Packaging Corp Of America (PKG)

Korea Investment CORP decreased its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 29.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 66,973 shares of the industrial products company’s stock after selling 27,727 shares during the quarter. Korea Investment CORP’s holdings in Packaging Corp Of America were worth $7,548,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PKG. National Pension Service grew its holdings in shares of Packaging Corp Of America by 17,026.6% during the fourth quarter. National Pension Service now owns 109,268 shares of the industrial products company’s stock worth $13,172,000 after buying an additional 108,630 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Packaging Corp Of America by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 620,747 shares of the industrial products company’s stock worth $74,832,000 after buying an additional 31,787 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Packaging Corp Of America by 52.5% during the fourth quarter. State of Alaska Department of Revenue now owns 24,000 shares of the industrial products company’s stock worth $2,891,000 after buying an additional 8,260 shares in the last quarter. Strs Ohio grew its holdings in shares of Packaging Corp Of America by 34.3% during the fourth quarter. Strs Ohio now owns 5,804 shares of the industrial products company’s stock worth $699,000 after buying an additional 1,481 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Packaging Corp Of America during the fourth quarter worth $205,000. 86.74% of the stock is owned by institutional investors and hedge funds.

Shares of Packaging Corp Of America opened at $121.87 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.58 and a current ratio of 2.72. The stock has a market cap of $11.55 billion, a PE ratio of 20.24, a PEG ratio of 1.85 and a beta of 1.81. Packaging Corp Of America has a twelve month low of $101.41 and a twelve month high of $131.13.



Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. Packaging Corp Of America had a net margin of 10.48% and a return on equity of 28.10%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. Packaging Corp Of America’s revenue for the quarter was up 10.0% compared to the same quarter last year. analysts forecast that Packaging Corp Of America will post 7.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 15th will be given a $0.79 dividend. The ex-dividend date is Thursday, June 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.59%. This is a boost from Packaging Corp Of America’s previous quarterly dividend of $0.63. Packaging Corp Of America’s dividend payout ratio is presently 41.86%.

A number of research firms have recently issued reports on PKG. BMO Capital Markets reaffirmed a “buy” rating and set a $130.00 target price on shares of Packaging Corp Of America in a report on Thursday, January 25th. DA Davidson boosted their price target on shares of Packaging Corp Of America to $135.00 and gave the company a “positive” rating in a research report on Thursday, February 1st. Wells Fargo & Co raised shares of Packaging Corp Of America from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Bank of America boosted their price target on shares of Packaging Corp Of America from $134.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Packaging Corp Of America presently has a consensus rating of “Buy” and a consensus price target of $128.92.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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